Markets closed lower compared to yesterday’s closing point.
Nifty and Sensex were volatile in the first half of the day. They fell sharply around 1 pm and closed in red.
Pharma stocks and healthcare stocks fell the most today. FMCG stocks and IT stocks rose the most.
Global markets: US markets fell on Tuesday. Most Asian markets fell on Wednesday. European markets showed a mixed trend (as of 6 pm IST).
News
The government approved the sale of 60.72% stake in IDBI Bank to Canada-based Fairfax Financial Holdings for Rs 52,878.08 crore as part of the bank’s strategic restructuring.
India’s wholesale inflation rose to 11.39% in September compared to 9.92% in August driven largely by fuel and power inflation.
India changed the double taxation avoidance agreement (DTAA) with Mauritius to prevent investors from using Mauritius-based entities primarily to get tax benefits.
SEBI extended the timeline for companies to adjust their IPO sizes by up to 50% without the need for new approvals. This is applicable to IPOs that open on or before 31 March 2027, as per media reports.
HD Fire Protect’s Rs 712 crore IPO was subscribed 16.50 times on day 2. Retail subscription: 11.34 times. The IPO will close for subscription on 15 Oct.
Fusion CX’s Rs 702 crore IPO was subscribed 0.41 times on day 1. Retail subscription: 1.55 times. The IPO will close for subscription on 16 Oct.
Stock Updates
BHEL: net profit rose 118.98% year-on-year to Rs 820.94 crore in the July-Sept quarter. It also approved Rs 500 crore to expand thermal and nuclear power-equipment manufacturing in Haridwar and the merger of its Mumbai unit with its Bengaluru division.
Adani Power: received a 25-year contract to supply 1,234 MW of thermal power to Uttarakhand Power Corporation, subject to regulatory approval.
Shriram Finance: denied media reports suggesting that Japan’s Mitsubishi UFJ Financial Group (MUFG) was seeking majority control of Shriram Finance. It called the media reports speculative.
Hyundai Motor India: inaugurated its Pune manufacturing plant, with plans to invest up to Rs 11,000 crore in phases. Annual vehicle capacity is expected to rise from 1.7 lakh to 3.2 lakh by 2030.
Billionbrains (Groww): net profit rose 53.95% year-on-year to Rs 725.65 crore in the July-Sept quarter. The board also discussed restructuring involving its Finwizard and Fisdom subsidiaries.
Zydus Lifesciences: the USFDA completed an inspection at its Moraiya manufacturing plant in Ahmedabad with 5 observations.
One 97 Comm (Paytm): subsidiary First Games received a GST demand order of Rs 703.66 crore, reduced from the earlier proposed Rs 5,712 crore, plus an equal penalty and interest.
Canara Bank: net profit rose 10.96% year-on-year to Rs 5,381.59 crore in the July-Sept quarter.
SBI Funds Management: appointed R.S. Srinivas Jain as Joint CEO, effective 13 Oct.
Lloyds Metals: approved plans to raise up to Rs 3,000 crore through NCDs and up to $180 million through overseas borrowings. It also cancelled an earlier Rs 600 crore NCD.
GMR Airports: incorporated wholly owned subsidiary GMR Aero Realty Ltd to pursue real estate and land-development opportunities.
Word of the Day
QoQ
It is used whenever numbers from two quarters are being compared
A quarter is 3 months long.
Whenever we compare one quarter with another quarter, we call it Quarter on Quarter (QoQ).
Likewise, we can also use weeks (WoW), years (YoY), etc.
Usually, QoQ involves comparing one quarter with the previous quarter.
Example: April-June 2026 vs Jan-March 2026.
QoQ comparisons are used for various metrics like revenue, earnings, loss, debt, etc.
6 Day Course
Theme: understanding bond pricing
Day 3: Wednesday
Today let’s talk about some factors affecting bond prices.
One of the biggest factors affecting bond prices on the bond markets is interest rates.
The central banks change interest rates from time to time.
Take an example where the central bank has reduced interest rates.
This would mean many newer bonds would now also be offering lower interest rates.
Because of this, demand for older bonds will increase. The opposite happens when the interest rates are raised.
Further, just like with stocks, many bond investors try to get ahead of others.
They try to predict interest rate changes in advance and buy/sell bonds before the actual announcement.
This leads to bond price changes. Much like shares, any news that might affect future interest rates also cause bond prices to move up and down.
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Featured Question
Q. “When foreign investors withdraw money from the stock market, who buys it and if someone buys it, then why does the market fall again when the money is already in the market?”
We somewhat answered this question yesterday.
You can read it for a more detailed explanation.
The short answer is this: the shares price remain the same if the net sales happen at the same price.
If the sale happens at a higher price, the share prices go up. And if the sale happens at a lower price, the share prices go down.
When foreign investors are withdrawing they are often selling at prices lower than the current market price because they want to exit fast.
Because of this, the share prices fall even though someone is buying the shares.
Who is buying the shares?
This is never the same buyer. It could be domestic institutional investors, it could be other foreign investors, it could be retail investors, etc.
The information presented in this post has been compiled and prepared by Groww Invest Tech Pvt Ltd and is intended solely for informational purposes. It is not tailored to any specific investment objectives, financial situations, or needs of any individual investor. The content should not be construed as investment, financial, legal, or tax advice and should not be relied upon as a substitute for professional consultation.
Investing in securities markets involves inherent risks. Investors are advised to carefully review all relevant documents and consider their own risk tolerance before making any investment decisions.
Mutual fund investments are subject to market risks; please read all scheme-related documents carefully. Past performance of financial instruments, schemes, or markets is not indicative of future results.
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Groww Invest Tech Pvt Ltd is registered with the Securities and Exchange Board of India (SEBI) under Registration No: INZ000301838, as a Research Analyst under No: INH200008662, as a Depository Participant under No: IN-DP-417-2019, and with the Association of Mutual Funds in India (AMFI) under ARN-111686.
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